Agenda item

Consideration was given to a report that sought approval for prudential borrowing to enable delivery of transformation projects approved by Cabinet on 17th October 2024. The requirement of £4.3m of prudential borrowing for the acquisition of food and recycling waste receptacles, green waste bins, site preparation costs for a Waste Transfer Station and resurfacing of Wellington Square car park.

The Powering our Future Update report to Cabinet on 17th October 2024 outlined a number of service changes through the Transformation Mission. The report to Cabinet was included as an appendix which provides more detail on each of the proposals.

Upfront investment was required to enable some of these service changes and these are detailed below:-

a)         Green Waste – a one-off capital cost of £1,000,000 to purchase 40,000 green waste bins

b)         Waste Transfer Station – site preparation costs of £1,100,000

c)         New Waste Receptacles - £1,200,000

d)         Car Parking – Resurface Wellington Square - £1,000,000

The total investment required was £4.3m. If the Council were to fund these costs upfront, and negate the need for borrowing, this would effectively increase the in-year financial pressure which would increase the need to utilise earmarked reserves. Alternatively the costs could be funded by prudential borrowing, allowing the cost to be spread over a longer period. This allowed the budget savings to be realised straight away, contributing towards the Council’s MTFP. It was therefore recommended that prudential borrowing be used.

The costs of prudential borrowing would be funded by the savings or new income generated from the service changes. This had been factored into the financial implications included within the Cabinet report.

The prudential borrowing repayments and the repayment terms were summarised in a table within the report.

Moved by Councillor Bob Cook, seconded by Councillor Lisa Evans:-

“Approve £4.3m prudential borrowing for the acquisition of food and recycling waste receptacles, green waste bins, site  preparation costs for a Waste Transfer Station and resurfacing of Wellington Square car park.”

Moved by Councillor Tony Riordan, seconded by Councillor Niall Innes that the substantive motion be amended as follows:-

“1. Approve the use of £4.3m from the earmarked reserves and unused borrowing approvals in the capital programme, for the acquisition of food and recycling waste receptacles, green waste bins, site preparation costs for a Waste Transfer Station and resurfacing of Wellington Square car park.

2. £3.3m in the earmarked reserves to be utilised for the acquisition of food and recycling waste receptacles, green waste bins and site preparation costs for a Waste Transfer Station. £1m to be utilised from the unused borrowing approvals in the capital programme, Reshaping our Town Centres, for the resurfacing of Wellington Street Car Park”

At this point and in accordance with Council Procedure Rule 3.65 Councillor Niall Innes requested that a recorded vote be taken; which was supported by at least a quarter of the members present:-

Members in favour of the amendment:-

Cllr Diane Clarke OBE, Cllr John Coulson, Cllr Jason French, Cllr John Gardner, Cllr Lynn Hall, Cllr Stefan Houghton, Cllr Shakeel Hussain, Cllr Niall Innes, Cllr Mohammed Mazi, Cllr Jack Miller, Cllr Sufi Mubeen, Cllr Stephen Richardson, Cllr Tony Riordan, Cllr Vanessa Sewell, Cllr Andrew Sherris, Cllr Hugo Stratton, Cllr Ted Strike, Cllr Emily Tate, Cllr Hilary Vickers, Cllr Marcus Vickers, Cllr Alan Watson and Cllr Sally Ann Watson.

Members against the amendment:-

Cllr Stefan Barnes, Cllr Jim Beall, Cllr Pauline Beall, Cllr Michelle Bendelow, Cllr Marc Besford, Cllr Clare Besford, Cllr Carol Clark, Cllr Nigel Cooke, Cllr Robert Cook, Cllr Richard Eglington, Cllr Lisa Evans, Cllr Kevin Faulks, Cllr Nathan Gale, Cllr Barbara Inman, Cllr Eileen Johnson, Cllr Mrs Ann McCoy, Cllr Steve Nelson, Cllr Ross Patterson, Cllr Paul Rowling, Cllr Norma Stephenson OBE, Cllr Mick Stoker, Cllr Marilyn Surtees, Cllr Sylvia Walmsley, Cllr Paul Weston, Cllr Katie Weston and Cllr Barry Woodhouse.

Abstentions:- Cllr Ian Dalgarno and Cllr Mick Moore.

22 for the amendment

26 against the amendment

  2 abstentions

The amendment was not carried.

Members then considered the substantive motion.

Cllr Hall requested a recorded vote on the substantive motion which was supported by at least a quarter of the members present.

Members in favour of the substantive motion:-

Cllr Stefan Barnes, Cllr Jim Beall, Cllr Pauline Beall, Cllr Michelle Bendelow, Cllr Marc Besford, Cllr Clare Besford, Cllr Carol Clark, Cllr Nigel Cooke, Cllr Robert Cook, Cllr Ian Dalgarno, Cllr Richard Eglington, Cllr Lisa Evans, Cllr Kevin Faulks, Cllr Nathan Gale, Cllr Barbara Inman, Cllr Eileen Johnson, Cllr Mrs Ann McCoy, Cllr Mick Moore, Cllr Steve Nelson, Cllr Ross Patterson, Cllr Paul Rowling, Cllr Norma Stephenson OBE, Cllr Mick Stoker, Cllr Marilyn Surtees, Cllr Sylvia Walmsley, Cllr Paul Weston, Cllr Katie Weston and Cllr Barry Woodhouse.

Members against the substantive motion:-

Cllr Diane Clarke OBE, Cllr John Coulson, Cllr Jason French, Cllr John Gardner, Cllr Lynn Hall, Cllr Stefan Houghton, Cllr Shakeel Hussain, Cllr Niall Innes, Cllr Mohammed Mazi, Cllr Jack Miller, Cllr Sufi Mubeen, Cllr Stephen Richardson, Cllr Tony Riordan, Cllr Vanessa Sewell, Cllr Andrew Sherris, Cllr Hugo Stratton, Cllr Ted Strike, Cllr Emily Tate, Cllr Hilary Vickers, Cllr Marcus Vickers, Cllr Alan Watson and Cllr Sally Ann Watson.

Abstentions:- None

28 for the substantive motion

22 against the substantive motion

  0 abstentions

The substantive motion was carried.

RESOLVED that £4.3m prudential borrowing be approved for the acquisition of food and recycling waste receptacles, green waste bins, site  preparation costs for a Waste Transfer Station and resurfacing of Wellington Square car park.